Small World Financial acquires French remittance outfit MoneyGlobe

Small World Financial acquires French remittance outfit MoneyGlobe

UK money transfer firm Small World Financial Services has acquired MoneyGlobe, a French international payments company.

The transaction represents the first acquisition made by Small World since private equity outfit Equistone invested in the company in November 2018. The financial terms of the deal are undisclosed.

MoneyGlobe enables the movement of money from France to recipients in North Africa, West Africa, the Caribbean and South America. The acquisition adds coverage of the French market to a money transfer network that currently processes 15 million transactions worldwide each year.

For MoneyGlobe, the transaction provides access to a wider choice of physical and digital channels and a global network of multiple payment options across more than 250,000 cash-pick locations in over 160 countries and direct-to-bank account pay-out in more than 100 countries.

Small World has plans to further extend its footprint through other bolt-on opportunities.

Nick Day, chief executive and founder, comments: “We continue to actively seek acquisition opportunities across a range of countries globally, in order to further enhance our customer proposition and extend our payments network.”

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